* Originally in: Dovenet TechTalk

OpenAI has finalized a deal that values it at more than $80 billion

From TLDR 2024-02-19

MICROSOFT-BACKED OPENAI VALUED AT OVER $80 BILLION IN LATEST DEAL (2
MINUTE READ) [5]

OpenAI has finalized a deal that values it at more than $80 billion.
The deal involves the sale of existing shares through a tender offer
headed by venture firm Thrive Capital. It allows employees to
liquidate their shares in the company. OpenAI was valued at
approximately $29 billion early last year.

HOW CHINA BUILT BYD, ITS TESLA KILLER (10 MINUTE READ) [11]

BYD, China's leading electric vehicle company, has posted two years
of million-car growth in sales. The company was originally a battery manufacturer when it showed off its first model in 2007. It passed
Tesla in worldwide sales last year and is currently building assembly
lines in Brazil, Hungary, Thailand, and Uzbekistan. This article looks
at the company, how it started, and its journey to where it is now.

REDDIT HAS A NEW AI TRAINING DEAL TO SELL USER CONTENT (2 MINUTE READ) [6]

Reddit has signed a deal with an unnamed large AI company for access
to its user-generated content platform. The deal is worth about $60
million annually. It is still subject to change as Reddit's plans to
go public are still in the works. Companies like OpenAI and Apple are
also seeking to make deals with other platforms to use their data to
train AI models.

NEW FDA-APPROVED DRUG MAKES SEVERE FOOD ALLERGIES LESS
LIFE-THREATENING (3 MINUTE READ) [7]

The FDA has approved an antibody drug called omalizumab (brand name
Xolair) as an injection to lessen allergic reactions to foods in
people ages 1 and up. The drug works by binding to a class of
antibodies called immunoglobulin E, preventing them from triggering an
allergic response. It doesn't eliminate food allergies, but it will
help reduce the health impact if accidental exposure occurs. The
drug's effects are not universal - in studies, around 17% of the
people receiving the drug showed no significant improvement in their sensitivity to allergy-triggering food.

SOFTBANK FOUNDER REPORTEDLY AIMS TO RAISE $100 BILLION TO BUILD AI
CHIP COMPANY THAT WOULD RIVAL NVIDIA - PROJECT IZANAGI MIGHT
LEVERAGE ARM DESIGN (2 MINUTE READ) [8]

Project Izanagi is a new chip venture from Softbank's founder that
aims to compete with Nvidia in the artificial intelligence processor
space. The project seeks to complement Softbank's Arm Holdings, which
designs processor architectures. It is unclear whether the AI
processors designed by Project Izanagi will rely on technologies
developed by Arm. The project may affect Arm's plans to create
reference chip designs for various workloads. It is separate from any collaboration with OpenAI.

INTERVIEW: FIGMA'S CEO ON LIFE AFTER THE COMPANY'S FAILED SALE TO
ADOBE (14 MINUTE READ) [12]

Figma's CEO Dylan Field offered employees severance if they wanted to
leave the company after its blockbuster sale to Adobe was blocked by regulators. 4% of employees took him up on the offer. While Figma
appears to be in a stronger position than when it first agreed to sell
to Adobe in 2022, Field also lowered the company's internal valuation
to $10 billion - the same number it was in 2021. Field wants to use
Adobe's $1 billion breakup fee to look at new areas for Figma to
expand to.

RAISING CHILDREN ON THE EVE OF AI (8 MINUTE READ) [13]

The future is hard to imagine, but we shouldn't be afraid of it.

A BRIEF HISTORY OF SAAS AND WHAT'S NEXT (14 MINUTE READ) [18]

What was once high-tech will eventually become background
infrastructure - SaaS will eventually become the infrastructure for
artificial intelligence, robotics, biotech, and reforming
manufacturing and space.

Links:
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[5] https://www.pymnts.com/cpi_posts/microsoft-backed-openai-valued-at-over-80-billion-in-latest-deal/?utm_source=tldrnewsletter

[6] https://www.theverge.com/2024/2/17/24075670/reddit-ai-training-license-deal-user-content?utm_source=tldrnewsletter

[7] https://arstechnica.com/science/2024/02/fda-approves-first-drug-to-lessen-food-allergies-before-accidental-eating/?utm_source=tldrnewsletter

[8] https://www.tomshardware.com/tech-industry/artificial-intelligence/softbank-founder-reportedly-aims-to-raise-dollar100-billion-to-build-ai-chip-company-that-would-rival-nvidia?utm_source=tldrnewsletter

[9] https://github.com/google/magika?utm_source=tldrnewsletter

[11] https://www.nytimes.com/2024/02/12/business/byd-china-electric-vehicle.html?unlocked_article_code=1.Wk0.wsvL.PMBLnnGc1sDM&smid=url-share&utm_source=tldrnewsletter

[12] https://www.theverge.com/2024/2/16/24075126/figma-ceo-dylan-field-interview-after-adobe?utm_source=tldrnewsletter

[13] https://juliawise.net/raising-children-on-the-eve-of-ai/?utm_source=tldrnewsletter

[14] https://twitter.com/nathanbenaich/status/1758036247115608317?utm_source=tldrnewsletter

[18] https://andercot.substack.com/p/a-brief-history-of-saas-and-whats?utm_source=tldrnewsletter

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